Sony has been trying for years to keep pace with rapid changes in the consumer electronics business, struggling to match the innovative gadgets produced by rivals such as Apple(AAPL).

Will smartwatches be a hit?

Sony just released the new Playstation 4 this month, its first new gaming system in seven years. The system sells for $399 and is competing against Microsoft's(MSFT) rival Xbox One for sales in the upcoming the holiday season.